Rosneft, Statoil start exploration for oil and gas in Norway

MOSCOW: Russia's Rosneft and Norway's Statoil have embarked on joint exploration for oil and gas on the Norwegian continental shelf in the Barents Sea, Rosneft said on Monday.

The companies expect to analyse the drilling results up until the end of this year.

A subsidiary of sanctions-hit Rosneft was granted the award of a 20 percent participating interest in the four fields within the Norwegian continental shelf in the Barents Sea during a licensing round last year.